National Storage Affiliates Trust (NYSE:NSA) Announces Quarterly Earnings Results

National Storage Affiliates Trust (NYSE:NSA) announced its earnings results on Monday. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.47), Yahoo Finance reports. The company had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. National Storage Affiliates Trust updated its FY24 guidance to $2.36-2.44 EPS.

National Storage Affiliates Trust Stock Performance

Shares of NYSE NSA traded up $0.86 during midday trading on Wednesday, reaching $43.19. The company’s stock had a trading volume of 126,429 shares, compared to its average volume of 783,307. National Storage Affiliates Trust has a 12-month low of $27.86 and a 12-month high of $46.84. The firm has a 50 day moving average price of $41.33 and a 200-day moving average price of $38.46. The stock has a market capitalization of $3.24 billion, a P/E ratio of 22.16 and a beta of 0.95. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.01 and a quick ratio of 1.01.

National Storage Affiliates Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date was Friday, June 14th. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

Wall Street Analyst Weigh In

NSA has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underweight” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price objective on National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underperform” rating in a research report on Monday, July 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.60.

Insider Transactions at National Storage Affiliates Trust

In other National Storage Affiliates Trust news, Director Chad Leroy Meisinger bought 18,405 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $37.74 per share, for a total transaction of $694,604.70. Following the purchase, the director now directly owns 114,155 shares of the company’s stock, valued at $4,308,209.70. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 13.00% of the company’s stock.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party.